A Product-Market Is One

question 190

Multiple Choice

A product-market is one

• A) in which exchanges are based on barter rather than money.
• B) where one seller has a patent for a superior product and other firms try to imitate the leader the best they can.
• C) where all of the customers want the same product but will consider a substitute if their preferred brand is not available.
• D) in which competing sellers offer physically or conceptually similar products.
• E) in which no intermediaries operate.

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Definitions:

Trade Discount

A discount granted by the supplier to a purchaser of goods for resale.

Trade Discount

A reduction in the retail price provided by a seller to a buyer, often based on the quantity of goods purchased or to encourage prompt payment.

Trade Discount

A deduction from the list price of goods, provided by a seller to a buyer, often based on volume of purchase or early payment.

Trade Discount

A reduction in the listed price of a good or service offered by a seller to a buyer, usually based on the quantity purchased or the buyer's status.